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A stainless steel blade needs to be heat treated to hold an edge, just like carbon steel blades. The shiny finish comes from polishing the blade. You are correct that bladesmithing is a subset of blacksmithing. However, stainless steels really don't lend themselves well to being forged. Their working range is rather narrow compared to carbon steel. Yes, you could buy a bar of 1/16" stock and shape it with the tools that you have, though don't expect great results the first time out of the shoot. If you do make a stainless steel blade you do have the option of sending it out to a heat treating outfit to have it hardened.
Doug
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